title to real property is passed to two or more people by granting a concurrent estate. Granting concurrent estates can be done in a will or by property deed. In Georgia, tenancies are presumed to be tenancies in common, unless specific language granting a joint tenancy with right of survivor...
Joint tenancy can become a regrettable deedLeonard Groupe
For example, if two people hold tenancy in common, one of them can gift or sell their share without consulting a second owner. Please consult with a real estate attorney for more information. Deed vs. title: main differences While closely related, these concepts stand for two different things...
or mortgage his or her interest without the consent of the co-owners. The new owner simply becomes a tenant-in- common with the other owners. When property is held as tenants-in-common, there is no right of survivorship. So unlike joint tenancy, the disposition of the property can be sp...
(such as California). Similar to joint tenancy, each person owns an undivided interest in the entire property and when one spouse dies the survivor automatically receives the entire interest, thereby avoiding the need for probate. As with joint tenancy property, property titled as community ...
property when the other co-owner dies—with no need for probate. A Michigan survivorship deed must transfer the property to the co-owners using aco-ownership formthat has a right of survivorship—either joint tenancy with right of survivorship or (if they are married) tenancy by the entirety....
If the grantees are co-owners, then you will select the type of joint property interest the grantees are sharing with one another. Each state allows different types of joint ownership, but these typically include tenancy in common, joint tenancy, tenancy by the entirety, community property, ...
Another method of transfer is holding property in joint tenancy, which allows the property to pass automatically to the co-owner(s) upon the death of one owner. Final Thoughts on Quitclaim Deeds Quitclaim deeds offer a quick, simple way to transfer property ownership, particularly between trusted...
The owners no longer have a joint tenancy with right of survivorship. Instead, the owners will hold title as tenants in common under the rule described above. If the owners hold title as joint tenants with right of survivorship and all owners sign the TOD deed, then the deed will transfer...
If the grantor wishes to quitclaim to two people who are not married, they take title as tenants in common. It is also possible to add the rights of survivorship through joint tenancy to the title, causing the property to pass to the survivor when the first of the two grantees dies. Ot...